March 2022


There’s a reason why there are nearly 750,000 physicians and surgeons found in the United States. We rely on these medical professionals every day to take care of us when we’re sick.

It’s well known that doctors earn a higher salary than the typical profession. But exactly what is the average doctor’s salary for 2022?

If you want to know the answer, you’re in the right place.

In this article, we’ll walk you through everything you need to know about the average doctor’s salary. That way, you can decide whether or not it’s the right profession for you. Let’s get started!

The Average Doctor’s Salary for 2022

The median salary for a doctor in 2022 is around $180,000 per year. However, this figure can vary rapidly. Doctors in the top 90% of earners can make as much as $340,000 per year.

However, doctors in the bottom 10% make around $94,000 per year. The good news is that even the worst doctor’s pay is still decent money.

Still, when you factor in all the education and costs required to become a medical professional, these low-paying jobs might not seem worth it.

What Factors Influence Doctor Salaries?

The salary difference between $94,000 per year and $340,000 is pretty wide. So, what accounts for this doctor’s earnings discrepancy? Many factors can determine why one doctor makes more than another.

In this section, we’ll go over some of the main factors that can affect the price.

  1. Speciality

Procedure-oriented doctors make a lot more money than primary care physicians. They earn an average of 40% more. Since their practices require specific skills, there’s a higher demand for them.

The trade-off is that these high-paying positions require a much longer residency to get. The highest-paid specialties are cardiologists, plastic surgeons, orthopedic doctors, brain surgeons, and radiation oncologists.

  1. Geographic Location

National averages for doctor salaries can be a little misleading. That’s because geographic location plays a huge factor in how much you will be paid.

If you choose a state with a lot of doctors, like New York or California, you likely won’t earn that much. But, if you choose an area where there’s a shortage of your specialty or just primary care doctors in general, you can earn a lot more.

For example, the average doctor’s salary in California is $161,955. But, in Mississippi, where there’s a shortage, the average salary is $202,911.

So, if you’re willing to relocate to where you’re needed, you stand to make a lot more money.

  1. Department Rank

Hospitals and healthcare facilities typically reward those who stay with them for a long time. This can be seen by the fact that doctors with a higher rank earn much more than the standard primary care physician.

You may also make more if you’ve been at a hospital for over a decade. Management tends to reward loyalty with higher salaries.

  1. COVID-19

External factors can also influence a doctor’s salary. One example is the recent COVID-19 pandemic. Many healthcare leaders reported that their organization’s compensation was affected by the pandemic.

These types of events place stress on certain parts of the healthcare industry, like hospitals and ICU areas. But it also reduces the necessity of others typically due to widespread economic reasons amongst patients.

Many patients may also stay away because of social distancing. While this trend is dying down, it’s important to note that it can easily happen again for one reason or another.

What Type of Education Do Doctors Need?

There’s a reason why most doctors are paid a lot of money. Doctors require a huge amount of education after high school. At a minimum, this comes to eleven years of continuous education.

So what would you do in these eleven years? First, you will need an undergraduate degree in chemistry, biology, physics, or a specific education course related to healthcare.

While earning your undergraduate degree, you will need healthcare experience. You can get this by volunteering at a hospital or medical clinic. Now, it’s time for medical school.

But before you can get in, you will first need to pass the standardized Medical College Admissions Test (or MCAT). After that, you will need four years of medical school at an accredited university.

Once you graduate from medical school, you will begin your residency program.

During this time, you will decide what medical specialty you want to focus on. Your residency will last between three and seven years depending on what specialty you decide on.

What Financial Challenges Do Doctors Face?

It takes a long time for a doctor’s income to increase. And before that happens, you will likely need to take on a lot of debt in student loans to afford education.

Once you become a doctor, you will need to use your finances to both prepare for retirement and protect against the unforeseen. Some vital areas to focus on include:

  • Disability insurance for if you’re injured on the job
  • Loan repayment strategies
  • Life insurance to protect your family
  • Retirement planning
  • Tax planning to avoid unnecessary taxes associated with upper bracket earnings

Sadly, doctors are busy people. They often don’t have time to give these financial challenges the attention they deserve.

That’s why we always recommend investing in a trusted physician financial advisor. They can take the stress off your back by focusing on every part of your finances.

Enjoy Learning About Doctor Salaries? Keep Reading

We hope this article helped you answer the question “What is the average doctor’s salary in 2022?” As you can see, doctors have one of the highest salaries in the country.

But when you calculate the time and cost of schooling, it’s easy to see why this salary is so high.

If you found this article informative, then you’re going to love some of the other topics that we have. We have categories in everything from business products to personal finance, so keep reading our articles to learn more.

Without a doubt, health insurance is a necessity we must consider investing in it today. Though people of all ages consider investing in one, we believe that health insurance for senior citizens is of paramount importance. There are several reasons why purchasing an insurance plan in old age is a good idea for your parents. First of all, it will save a major of their expenses related to any health condition they might be suffering with. Second, it will secure their future in the long run without putting a dent on their finances and give them a healthy and secure life. If you are wondering why senior citizens should invest in a health insurance policy, keep reading this post.

Prevents Stress

Having comprehensive medical insurance in place can keep you secure whenever a medical emergency arises. You could buy an insurance plan and never have to worry about unnecessary medical costs for the rest of your life. Also, you could purchase an insurance plan and plan for all your emergencies in a manner that is stress-free.

Saves You From Debt

When you are at the age of 60, have retired and don’t have a paycheck coming in every month, any sort of medical emergency can put a dent in your finances and rob you off all your money. Financial emergencies also sometimes lead you to debt.

Shields You From Diseases

When you grow older, you become prone to many diseases and illnesses. This is actually quite common amongst elderly people. Hence, it is important that you have a comprehensive health insurance policy when you are older.

Soaring Medical Costs

When technology increases, medical costs increase too. With so many costs skyrocketing in the medical field, you should have a good health insurance policy that will take care of all your expenses.

Unstable Income Post Retirement

After a certain age, there isn’t really anything called fixed income. Not just that, your income becomes unstable and limited during this time. Hence, after 60 it is essential that as a senior citizen you end up having a comprehensive health insurance plan so that you don’t have to deal with any financial crisis.

Dependency On Children

Usually, post retirement, a lot become dependent on their kids financially. At such a time, it is important for the bread earner of the family to step it up, pay up the expenses from their pocket even if you don’t have an insurance plan. Hence, experts suggest investing in the best health insurance for senior citizens as they are the most useful!

With medical costs rapidly increasing on a regular basis, it is important for senior citizens to be mindful of their future and invest in health insurance or term insurance. In the last few years, the life expectancy of average citizens has increased because of advanced technologies and healthcare facilities. Senior citizens also don’t have any fixed income sources and won’t be able to afford expensive treatments, if the need arises. Hence, it is important that they get proper treatment in order to take care of any emergency. Some comprehensive health insurance plans for senior citizens can help with that.

In case you are searching for a brand-new savings account, Chase is a great option to think about since you might be able to locate a branch close in which you live.In this post we will be discussing why open a Chase Bank Account.

If you want Chase’s comprehensive branch and ATM system in the United States, the Chase Savings account is the right choice – you will help save money and time while still getting convenience.

Nevertheless, you will find a plethora of alternate savings accounts accessible available nowadays. It’s the intention of ours to evaluate the Chase Savings account rates, fees, along with additional features – and also equate it to other savings account options.

Interest Rates

Although having a checking account is handy for saving cash on payments, it’s not likely that you’ll in fact be earning some cash.

A savings account has the benefit of guaranteeing interest and Chase bank provides its clients 2 choices to enhance their contributions and increase the amount of cash in their private Bank account.

You are able to select between a Chase Savings account and a Chase Plus Savings account, based on whether you would like to add another to your portfolio or begin with your very first account.

The minimum deposit needed to launch a Chase Savings and a Chase Plus Savings account is USD twenty five and USD 100, respectively, based on the account. The bank does not provide fixed interest rates on any of its products.

The Advantages and Disadvantages of a Chase Savings Account


  • Bonuses for new accounts are given out on an irregular basis.
  • It is possible to utilise it for overdraft protection.
  • Access to physical branches
  • Mobile app is available


  • A cost charged on a monthly basis

When compared to internet savings accounts, the interest rate is significantly lower.

Rates are rather determined by the quantity of cash in the account as well as the type of account. All of the balances in a typical Chase savings account will produce a fairly small annual percentage yield (APY). This’s most likely nothing to be too pumped up about.

However, the good news is Chase gives you another method to boost your wealth. In case you wish to obtain a much better yield, you need to think about opening an account with Chase Plus Savings, as they provide a higher return rate.

If you do not link your Chase Plus Savings account to a qualifying Chase checking account, you’ll be charged an interest rate which is linked to the quantity of money in the account.

You are able to boost your earning potential by linking your Chase Plus Savings account to a Chase Premier Plus Checking account or a Chase Premier Platinum Checking account.

When you’re searching for virtually any kind of bank account, you have to do a little comparison shopping to find out what the various rates are, and to find out what other choices are available.

Even though the rates provided by Chase savings are usually above those provided by some financial institutions, they might not be as attractive as those offered by several online banks.

Having the capability to chat to a banker face-to-face when a problem comes up is essential to a number of individuals that prefer a brick-and-morty bank.

If you are not worried about face-to-face interaction, the return on an online high-yield savings account will most likely be a lot higher.

When compared to other online savings accounts, how does it fare?

In contrast to Chase, online banks are not required to pay the operating costs of maintaining physical locations.

This allows them to provide savings accounts with significantly greater interest rates, as well as account fees that are significantly reduced or eliminated.

Understanding the Monthly Fees for a Chase Savings Account

Once interest is earned on savings accounts, they can grow rapidly and easily. A lot of banks ask for a fee for their services, which is generally a monthly charge. The Chase Bank is simply one of those exceptions.

Monthly upkeep and service costs can rapidly exhaust your account balance. To be able to stay away from these fees, Chase provides its clients a number of choices.

The Chase Savings account includes a USD five monthly service fee, but the bank is going to waive this fee in case you meet a minimum of one of the following criteria each statement cycle:

Ensure that you keep a daily minimum balance of $300 or more

At least one recurrent automatic transfer of $25 from a Chase checking account has been set up for you.

You link your savings to one of the following Chase checking accounts: Chase Premier Plus Checking, Chase Premier Platinum Checking, or Chase Private Client Checking.

Monthly service costs, like interest rates, vary from financial institution to financial institution.

The Ally bank doesn’t charge a monthly service charge and doesn’t charge a fee for ACH transactions to accounts which are not held by the bank.

When it comes to competitors, American Express National Bank doesn’t charge a monthly service fee for its high-yield savings account, and you might steer clear of the USD 30 monthly service cost charged by Synchrony Bank in case you have a minimum balance of USD thirty in your savings account.

Another Fee to Keep an Eye Out For in Your Savings Account

You’re only permitted to make a particular amount of deposits and withdrawals from your savings account each monthly statement cycle, based on federal law (six withdrawals and transfers).

Transfers and withdrawals made on the spot at an ATM or branch of a bank aren’t subject to this restriction.

Chase Bank is going to charge you USD five every time you make over 6 withdrawals or transfers in a month, and an extra charge of $ ten per transaction. Nevertheless, if the amount in your Chase Plus Savings account is greater than USD 15,000, the bank might be prepared to waive this fee.

How a Chase Savings Account Works and What You Can Expect?

The following are some of the features of every Chase savings account:

  1. Automatic savings program

It requires discipline to pay yourself first even if you understand just how essential saving is.

The great thing is Chase provides an automated savings program which works with every account.

You are able to create recurring automatic transfers from your checking account to your savings account in case you’ve a Chase checking account. You’re accountable for figuring out the transfer schedule and quantity of each transfer.

  1. Overdraft protection

Overdrawing your account may occur as a result of an incorrect calculation or a forgotten transaction.

Overdraft protection from Whenever you link a Chase savings account to a Chase checking account, Chase Bank is going to be accessible. Overdraft protection can stop overdraft penalties from being imposed by transferring money from your savings account to cover the transaction.

It’s absolutely free to sign up for overdraft protection. At this time of writing, Chase charges a charge of USD ten overdraft protection per transfer (fee waived for Chase Premier Platinum accounts).

  1. Online/mobile banking

Online banking is possible, and it simplifies the banking procedure. So long as you’ve Internet access, you are able to deal with your Chase savings account from any place. That is true 7 days per week, 24 hours each day.

Transmit cash, create alerts, and keep track of the activities on your bank account. You are able to also download the bank’s mobile app and make use of it to keep tabs on your account from anyplace, no matter if you do not wish to be at a computer.

  1. Code for a Chase savings account.

If you open an account with Chase Bank and produce a checking or savings account regularly, you are able to get a sign-up bonus.

To obtain the present deal, you have to start a brand-new Chase savings account and deposit a minimum of USD 10,000 into the account within 10 business days, or keep a balance of USD 10,000 for ninety days.

You can go to any Chase savings account site as well as bring the coupon to any of their stores. If you’re not able to make the most of the discount, be on the lookout for upcoming offers.

If you are considering starting your own business, you may be wondering if you can run a business without insurance. Though you may be able to survive on a shoestring budget, you should consider purchasing a small business insurance policy. Not only will it protect your investment, but it will also keep you covered in the event of a disaster. Accidents, mistakes, and even natural disasters can happen, and the peace of mind associated with having the right coverage is worth the small annual premium.

In the event of a disaster, you will not have any means to recover. You will have to spend a lot of money on repairs, and you will be out of business for several months. If you plan to reopen your business, you will not be able to make any profit, and this will eat into your profits. In these circumstances, you need to have the right insurance to cover your costs. You can find a APOLLO Insurance Agency partner with just a few clicks of your mouse.

If you are hiring employees, it is important to have workers compensation insurance. This will cover your employees in the event of an accident. If you have a business, it is essential that you have this type of insurance. The APOLLO Insurance Agency can help you select the right policy for your business. They can help you navigate the many options available to you. You can also contact an independent agent to get a free quote and apply online.

It is not necessary to purchase business insurance. If your landlord requires you to carry this type of coverage, you can choose a cheaper policy that does not require insurance. However, it is a good idea to check with your insurance agent for the best price. The National Federation of Independent Businesses offers helpful information on choosing the right coverage for your small business. There are some advantages to having insurance, but you should remember that it is important to assess your risks before making a decision.

Some states require businesses to carry general liability insurance, while others do not. Depending on your needs, you should determine whether you need additional coverage. You should consider the costs and benefits of each option and compare the coverage to the costs. If you can afford to pay more for insurance, then it is worth it. A small business can save you a lot of money if it chooses the right insurance. The NFIB will help you choose the right insurance.

It is essential for small businesses to maintain insurance, as it helps protect them from unforeseen circumstances. If your business is uninsured, you will be left to deal with the financial consequences of repairing and reopening it. If you plan on reopening the business after an incident, you’ll be losing money, so it is best to obtain insurance. With the right insurance, you can protect your small business from financial disaster and avert the cost of repairs.

Many first-time home loan borrowers tend to confuse home loan with loan against property and use the terms interchangeably. However, while the terms sound similar, they are different financial products. 

While home loans are a type of secured loan, you can avail of this loan only to buy or construct a new home. You can also use the loan to purchase a resale property. In contrast, when you apply for a loan against property or LAP, you already have ownership of the property, and you use it as a collateral to get funds against it. 

In this write-up, we discuss the key difference between housing loan and loan against property. 

Interest rate

When you apply for any type of loan, the interest rate is one of the important factors that could affect your borrowing decision. The higher the interest rate, the higher will be the EMI. 

When it comes to home loans, the lenders today offer the loan at competitive interest rate. Today, you can easily get the loan at an internet rate starting from 6.70% per annum. On the other hand, the interest rate for loan against property can be higher than the home loan. 

Hower, if you do your research well, and compare the offers from different lenders, you can surely find an offer that fits your budget. 

Repayment tenure

Home loans are essentially long-term financial products. You can easily repay the amount over a longer period. Generally, the lenders in India offer home loans for a maximum period of 30 years. However, you have the flexibility to choose the loan tenure based on your repayment capacity. If you can pay a higher EMI, you can reduce the loan tenure. 

In contrast, the repayment tenure for LAP or mortgage loan is much lower than home loan. You can avail of LAP for a maximum period of 15 years. However, it is a much longer tenure than personal loan, which comes with a maximum duration of 5-10 years. 

LTV (Loan-to-value) Ratio

Another key difference between home loan and mortgage loan is the loan-to-value ratio. It refers to the maximum value that the lender funds against the value of the property. 

When it comes to home loans, the lenders generally fund a maximum of 80% of the property’s value. You must pay the balance amount from your pocket. This is called down payment and it must be paid upfront. 

For LAP, the financial institutions decide the maximum amount you can borrow based on their assessment of the property’s value. Generally, lenders do not lend more than 50% of the property’s value. 


You can use the home loan only for buying a new ready-to-move property or an under-construction property. You can also use it to build your own house on the plot you own or allotted to you by the government. 

When you apply for a loan against property, the lender does not have any restrictions on the usage. You can use the money for any purpose you want, such as increasing business capital, paying employees’ salaries, taking a world tour with your loved one, home renovation, paying your child’s college fees, etc. 

Final Word

Now that you are aware of the difference between home loan and LAP, you would understand that they are different types of loans and serve different purposes. So, assess your needs and choose the right type of loan to suit your specific needs.